Laurus Labs soars; USFDA approves its HIV drug
Tanay Loya / 01 Dec 2017
Laurus Labs was bustling on the bourses during early trade on Friday as the company received approval from the US drug regulator for its HIV drug.
Laurus Labs was bustling on the bourses during early trade on Friday as the company received approval from the US drug regulator for its HIV drug.
The company has received its first tentative approval from United States Food and Drug Administration (USFDA) for Tenofovir Disoproxil Fumarate tablets 300mg.
The said tablets are equivalent to VIREAD tablets of Gilead Science. They will be used for treatment of HIV-1 infection in adults and paediatric patients above two years of age.
Laurus Labs is a research and development driven pharmaceutical company. The company is one of the leading manufacturers of Active Pharmaceutical Ingredients (APIs) for anti-retroviral (ARV) and Hepatitis C. The company also manufactures APIs for oncology and other therapeutic areas.
At 11:26 hours, Laurus Labs was trading at Rs. 536.70 per share, up Rs 11.53, or 2.15 per cent on the NSE. The scrip opened at Rs. 549 and touched a high and low of Rs 549.50 and 535.10, respectively. The stock attracted a traded volume of 1,20,112 shares on NSE.
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